August 22, 2016, Osaka, Japan – Santen Pharmaceutical Co., Ltd. (hereinafter, "Santen") announced today that it has completed the acquisition of InnFocus, Inc., developer of the InnFocus MicroShunt®, on August 19, 2016, Eastern Time, U.S. As originally announced on July 19, 2016, the acquisition price included an upfront payment of USD 225 million and future performance-based consideration upon achievement of certain development, regulatory and commercial milestones.
The impact of this acquisition on Santen's consolidated financial forecasts for the fiscal year ending March 31, 2017 was disclosed in Santen's first quarter consolidated performance announcement on August 2, 2016.
As a specialty company dedicated to the ophthalmic field, Santen carries out research, development, sales, and marketing of pharmaceuticals. Santen is the market leader in Japan for prescription ophthalmic pharmaceuticals and sells products in over 50 countries. As a leading company in the field of ophthalmology, Santen aims to contribute to society by supplying valuable products and services to satisfy unmet medical needs. For more details, please see Santen's website (www.santen.com).
Information provided in this press release contains forward-looking statements. The achievement of these forecasts is subject to risk and uncertainty from various sources. Therefore, please note that the actual results may differ significantly from the forecasts. Business performance and financial conditions are subject to the effects of changes in regulations made by the governments of Japan and other nations concerning medical insurance, drug pricing and other systems, and to fluctuations in market variables such as interest rates and foreign exchange rates.
Corporate Communications Group
Santen Pharmaceutical Co., Ltd.